The earnings call reflects a positive sentiment overall, marked by strong financial performance, strategic growth in data center and new energy markets, and successful portfolio optimization. However, challenges remain due to tariff impacts and market conditions in OFSE.

Company Guidance -

Q3 2025

During the second quarter of 2025, Baker Hughes reported a strong financial performance, achieving an adjusted EBITDA of $1.21 billion, which represents a 170 basis point year-over-year improvement in margins. This marked the 10th consecutive quarter of meeting or exceeding the midpoint of their EBITDA guidance. The Oilfield Services & Equipment (OFSE) segment delivered a 90 basis point sequential margin improvement, attributed to increased international revenue and cost-out initiatives. The Industrial & Energy Technology (IET) segment saw a 190 basis point year-over-year margin expansion, with orders totaling $3.5 billion, including over $550 million in power generation equipment orders for data centers. IET also achieved a new record backlog of $31.3 billion, reinforcing their growth outlook. The company generated $239 million in free cash flow and returned $423 million to shareholders, including $196 million in share repurchases. Additionally, Baker Hughes announced three strategic transactions to optimize their portfolio, aiming to enhance earnings durability and cash flow.

Strong Financial Performance

Adjusted EBITDA rose to $1.21 billion, reflecting a 170 basis point year-over-year improvement in margins. This marks the tenth consecutive quarter meeting or exceeding the midpoint of EBITDA guidance.

Data Center and Industrial Growth

IET orders totaled $3.5 billion, with significant growth in data center solutions, booking over $550 million in power generation equipment orders. IET backlog reached a record $31.3 billion.

Strategic Transactions

Announced three strategic transactions, including a joint venture with Cactus, sale to Crane Company for $1.15 billion, and acquisition of Continental Disc Corporation for $540 million, enhancing portfolio optimization.

New Energy Orders and Market Expansion

Booked $1 billion in new energy orders, exceeding last year's total, driven by demand for lower carbon solutions and strategic agreements in geothermal and CCS technologies.

Baker Hughes Company (BKR) Earnings, Revenues Date & History

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BKR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 15, 2025	2025 (Q3)	0.62 / -	0.67	―	―	―
Jul 22, 2025	2025 (Q2)	0.56 / 0.63	0.57	10.53% (+0.06)
Apr 22, 2025	2025 (Q1)	0.47 / 0.51	0.43	18.60% (+0.08)
Jan 30, 2025	2024 (Q4)	0.62 / 0.70	0.51	37.25% (+0.19)
Oct 22, 2024	2024 (Q3)	0.60 / 0.67	0.42	59.52% (+0.25)
Jul 25, 2024	2024 (Q2)	0.49 / 0.57	0.39	46.15% (+0.18)
Apr 23, 2024	2024 (Q1)	0.39 / 0.43	0.28	53.57% (+0.15)
Jan 23, 2024	2023 (Q4)	0.48 / 0.51	0.38	34.21% (+0.13)
Oct 25, 2023	2023 (Q3)	0.40 / 0.42	0.26	61.54% (+0.16)
Jul 19, 2023	2023 (Q2)	0.33 / 0.39	0.11	254.55% (+0.28)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BKR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 22, 2025	$39.81	$44.44	+11.63%
Apr 22, 2025	$37.92	$35.48	-6.43%
Jan 30, 2025	$43.87	$45.43	+3.56%
Oct 22, 2024	$35.20	$36.20	+2.84%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.